the contract awarded with relatively high gross margin giving a positive result in overall picture. Cost of Sales for Supply and Maintenance The Company reports its cost of sales for supply and

บทรายงานและการวิเคราะห์ของฝ่ายบริหาร Management Discussion and Analysis For the Financial Result of Quarter 2 Year 2019 Ended June 30, 2019 Note: This Management Discussion and Analysis (MD&A) was

when the contract ends. The Group’s management assessed the agreement in accordance with TFRIC 12 ‘Service Concession Arrangements’. As a result, the Group’s management recognized revenue from

result, depreciation in Q1/2020 decreased Baht 3 million when comparing to Q1/2019. The Company’s administrative expenses were Baht 34 million, a small increase of Baht 1 million or 4%. The main reason was

million or 2% from Q1/2020 • However, EBITDA margin in Q1/2021 was 31.5%, increased by 5.1% from Q1/2020 as a result of the effective control of selling and administrative expenses under the implementation

the price of main raw material which increased in accordance to the global market price. As a result, Thailand has the volume of exports of palm oil more than the same period of the last year. Although

unfavorable condition of the Company’s traditional trade channel as the Company appointed a large-sized distributor for the channel since the first quarter of 2018 but later terminated the contract with the

terminated the contract with the distributor which is effective on 3 0 June 2 0 1 9 . During the period, the Company was unable to make any sales through traditional trade channel or assign a new distributor

Carnival Magic is unique and different from transporting lifts generally used in major buildings. As a result, local contractors rejected the work and only foreign contractors accepted the work with proposed

0 1 8 but later terminated the contract with the distributor which is effective on 3 0 June 2 0 1 9 . During the period, the Company was unable to make any sales through traditional trade channel or